Archive | October, 2014

Hoe miljoenen aan Europees ontwikkelingsgeld in belastingparadijzen verdwijnen

By George Turner, originally appeared on De Correspondent Met al het geld dat wegvloeit naar belastingparadijzen, kun je tweemaal de wereldarmoede opheffen. Aldus ontwikkelingsorganisatie Oxfam.Lees hier meer over het Oxfambericht. Volgens de Verenigde Naties Om precies te zijn: the United Nations’ High Level Panel on Illicit Financial Flows. wordt er per jaar zo’n 50 tot 60 […]

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Europe’s tax haven investments in Africa

By George Turner, originally appeared in EU Observer BRUSSELS – The honour of delivering the keynote address at the high-level EU-Africa Business Forum earlier this year fell to Dr Ahmed Heikal. In front of European Commissioners, leading politicians, chief executives of huge multinationals, senior bank bosses and billionaires, the Egyptian investment tycoon was asked to […]

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European public banks drive climate change instead of reversing it

’Assessing the amount of ‘unburnable carbon’ embedded in international financial institution portfolios’, a study prepared by the Bretton Woods Project found that: Multilateral Development Banks (MDBs) [1] have $20 billion of active investments in fossil fuel projects with a carbon potential of the equivalent of 29.3GtCO2 (gigatons of carbon dioxide). The carbon potential of the […]

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Wie Europas Steuerzahler Investoren in Steueroasen unterstützen

Europas Förderbanken wie EIB und die KfW helfen Investoren bei großen Infrastrukturprojekten in Afrika. Die versteuern ihre Gewinne aber lieber in Steueroasen in der Karibik. Das Fallbeispiel eine Qalaa Holding aus Ägypten Ahmed Heikal, Großinvestor und Fondsmanager aus Ägypten, genießt in afrikanischen Wirtschaftskreisen hohes Ansehen. Er ist Gründer und Vorsitzender der Qalaa Holding (ehemals Citadel […]

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European Ombudsman: EIB weakens EU efforts to strengthen rule of law in Bosnia and Herzegovina

Brussels – In an unprecedented ruling this week, the European Ombudsman concluded at the end of an investigation into the European Investment Bank’s involvement with a road construction project in Bosnia and Herzegovina that the institution’s behaviour was “totally unacceptable” and it “risked putting into question the EU’s commitment for strengthening the rule of law […]

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Can the European Investment Bank move ahead of the pack on climate?

The European Investment Bank is gearing up for an increased role in spurring growth in Europe as set out by the new Juncker Commission. Yet as Europe’s 2030 climate targets are being undermined by some countries the bank that wants to be a leader in climate action must keep in mind that we can no […]

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Thousands urge European Commission to ditch biodiversity offsetting

As the European Commission concludes its consultation on biodiversity offsetting, over 9000 people and 65 organisations have signed a letter urging the Commission not to pursue policy related to biodiversity offsetting (BO). They fear it would “harm nature and people, and give power to those who destroy nature for private profit.” The consultation sought views […]

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A €300 billion growth package: don’t just spend it, spend it wisely

EU ministers are gathering in Luxembourg this week to discuss a €300 billion growth package. €300 billion is a dazzling amount but throwing money at a problem is not enough to solve it, experiences from previous EU stimuli packages show us. The ambition this time around should be to do spend the money more effectively, […]

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ActionAid Asks EIB to Publish Report on Mopani Tax Evasion

The following joint press release was circulated by non-governmental organisations ActionAid Zambia, Christian Aid, and Counter Balance, including the full text of their letter appealing to the European Investment Bank (EIB) to publish their findings on possible tax evasion activity at the Mopani Copper Mine, which is owned and operated by Glencore. On the eve […]

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European public banks are most opaque multilateral organisations

2014 Aid Transparency Index The European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) are ranked 16th and 17th respectively out of 17 multilateral organisations on the 2014 Aid Transparency Index (ATI) which is published today. The transparency index comes at a momentous time for the EIB as the institution is […]

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